PwC Canada report says export diversification could add $146 billion by 2035

Julia Sequeira

A new PwC Canada report found that Canadian sectors could generate about $146 billion in additional non‑U.S. export growth by 2035 if the country increases investment in transportation, logistics and processing capacity. The report says global trade is shifting and Canada has a chance to reach more markets outside the United States.

The report says energy, minerals and agri‑food have the strongest potential. Energy exports could rise from $29.47 billion in 2025 to $106.31 billion by 2035 if Canada meets its policy goals. Minerals‑related products could grow from $55.74 billion to $98.33 billion, and agri‑food exports could increase from $30.78 billion to $82.65 billion. Other categories also show gains, including consumer goods, aircraft and motor vehicles, and metal ores.

Where Canada trades

Projected direction, volume, and growth of Canadian exports by region

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By: PWC

“Canada has the products the world is looking for, but demand alone will not create growth,” said Michael English, Transportation and Logistics leader, PwC Canada. “The next decade will be defined by whether Canada can move quickly enough to build the infrastructure, processing capacity, export corridors and commercial relationships needed to reach new markets.”

The report says Canada’s ability to grow exports will depend on ports, trade routes, inland hubs and stronger connections between rail, trucking and marine shipping. It also says Canada will need more investment and clearer planning to help companies reach buyers in new regions.

Click here for the full report.